PhenixFIN Corporation Common Stock (PFX)

FairStock Score: 46/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with the business. PhenixFIN is an 11-employee business development company investing in privately negotiated debt and equity of small and middle-market companies. That can be a decent niche, but the filed results show no obvious durable competitive moat; returns depend on credit selection and marks, not a wide moat. The earnings record is mixed. In fiscal Q3 2026, the quarter ended 2026-06-30, net income was $4.2 million and diluted EPS was $2.19, reversing fiscal Q3 2025, the quarter ended 2025-06-30, when net loss was $1.5 million and diluted EPS was $-0.74. But fiscal Q1 2026, the quarter ended 2025-12-31, had a net loss of $4.8 million and diluted EPS of $-2.38, while fiscal Q2 2026, the quarter ended 2026-03-31, earned $1.1 million, or $0.57 per diluted share. In fiscal year 2025, the period ended 2025-09-30, net income was $4.2 million, or $2.06 per diluted share, down from fiscal year 2024, ended 2024-09-30, at $18.6 million and $9.13, and fiscal year 2023, ended 2023-09-30, at $26.9 million and $12.87. That is not steady compounding. FairStock's calculations at the 2026-10-13 close show a P/E of 19.14, P/B of 0.55, ROE of 2.97%, ROCE of 3.22%, and a PEG of 0.05. The Graham Number is $65.44, implying a 31.86% margin of safety. But the Altman Z-Score is -2.09 and the Piotroski F-Score is 5/9. Trailing free cash flow is -$3.0 million, a -3.5% FCF yield, and debt-to-equity is 0.94. FairStock calls it a TURNAROUND because it returned to profit after a loss within the last three years. So the price is statistically cheap against book and Graham value, but the quality and cash generation are not yet convincing. I would want to see whether the recent quarterly profit persists and whether the balance sheet strengthens.

In plain English: PhenixFIN is a small investment company that puts money into debt and ownership stakes in private small and midsize businesses. Its profits have been uneven: it lost money in some recent quarters but earned money in others, and annual profits have shrunk since fiscal 2023. At the $44.59 close on 2026-10-13, the shares trade below the calculated value of the company’s net assets, which may look cheap, but weak cash generation and high borrowing are warnings.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-06-30) · fiscal Q2 2026 10-Q (period ended 2026-03-31) · fiscal Q1 2026 10-Q (period ended 2025-12-31) · fiscal Q3 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-09-30) · FY2024 10-K (period ended 2024-09-30) · FY2023 10-K (period ended 2023-09-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer